FTX US, the sources said, would pay an additional $25 million if, by Dec. 31, BlockFi wins an important regulatory clearance from the U.S. Securities and Exchange Commission for BlockFi Yield, a product that would generate interest on depositors’ crypto by lending the crypto out at a higher rate. Source
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Fed to issue long-awaited guidelines for granting master accounts to crypto banks Crypto’s continued journey into the mainstream has come with various levels of regulatory action across the globe. This week brought clarity in terms of expectations for crypto-focused banks seeking accounts with the…
Inc. magazine has named BlockFi the fastest growing company in the United States in 2022. At the top of the magazine’s Inc. 5000 2022 list, it experienced 245,616% growth, a lead of more than 99,000% over the second-place company, a platform for hiring nurses. The median growth rate was 230% across all 5,000 entries. The Inc. list “ranks companies by overall revenue growth over a three-year period,” according to the magazine. In the fast-moving world of crypto, three years is practically an epoch, and BlockFi’s achievement is especially notable after…
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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Big news about Celsius Network, Voyager, Blockfi and FTX. Is this the end of CeFi and crypto lending? 🟪Buy Bitcoin & Crypto with IRA/401k w/ItrustCapital ($100 Bonus) 📊Buy Bitcoin & Crypto w/Bitget (No KYC and up to $8000 Bonus) 💳Get a Blockfi Bitcoin Reward (1.5% Back in BTC) Credit Card: 🚧Buy Crypto Domain Names w/ Unstoppable Domains: 💰Earn Interest and DCA Crypto w/ Vauld: 🔒Safeguard Your Bitcoin and Crypto w/ Ledger Hardware Wallet 🚨Protect Yourself with NordVPN (69% off) 🔥CryptosRus’ Best Crypto…
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Centralized crypto lender BlockFi disclosed that as of the end of Q2, it had $1.8 billion in outstanding loans from institutional and retail investors and $600 million in “net exposure.” The disclosure came from its July 21 Transparency Report for Q2 where the firm outlined its risks relating to liquidity and credit, and shared details on its institutional and retail loan portfolios. Of the outstanding loans to borrowers — valued at $1.8 billion — the firm reported that $600 million are uncollateralized loans. Institutional loans accounted for $1.5 billion of…
Crypto lending platform BlockFi, after asserting earlier Tuesday that it would no longer accept shares in the Grayscale Bitcoin Trust (GBTC) as collateral for loans, reversed its position later in the day and issued a statement that, “We are not saying that we won’t support GBTC as collateral moving forward.” Source AcceptingBlockFiCollateralGBTCPlanquicklyReversesStop CryptoX Portal
The company’s exposure to the Grayscale Trust is now minimal, says CEO Zac Prince. Source